A look at life's quirkiness through a jaundiced eye and a mind open to all except that to which it's hermetically sealed...
Tuesday, 28 January 2014
A Closer Look at China and HSBC – Are they Running Out of Cash?
Hasn't the financial sector learned anything from the
disastrous collapse of the banking system in 2008? Or didn't casino banking
ever go away? But why worry if they're secure in the knowledge that when in trouble
the state will bail them out by socialising debt and privatising profits. So
the poor are subjected to greater austerity measures while the vampire bankers continue to reap
obscene rewards for failure.
Watch out for the fallout across the globe. Then what? An
increase in austerity; a witch hunt for scapegoats to blame as the neo-lib governments pander to their mates’ losses.